PROREIT announces filing of a preliminary short form prospectus and $155.6 million of property acquisitions

PROREIT announces filing of a preliminary short form prospectus and $155.6 
million of property acquisitions 
MONTREAL, July 9, 2013 /CNW/ - PRO Real Estate Investment Trust ("PROREIT" or 
the "REIT") (TSXV: PRV.UN) today announced that it has filed a preliminary 
short form prospectus with the securities authorities in all provinces of 
Canada with respect to a proposed offering of units, with the aggregate number 
of units to be issued and the price per unit to be determined in the context 
of the market. 
The offering is being made on an underwritten basis through a syndicate of 
underwriters led by Canaccord Genuity Corp. and including TD Securities Inc., 
BMO Nesbitt Burns Inc., CIBC World Markets Inc., National Bank Financial Inc., 
RBC Dominion Securities Inc., and Scotia Capital Inc. 
PROREIT has been established to own a portfolio of diversified commercial real 
estate properties in Canada, with a focus on primary and secondary markets in 
Québec, Atlantic Canada and Ontario. 
Acquisition of Properties 
The REIT has entered into agreements in connection with the potential 
acquisition of a total of 24 commercial properties (collectively, the 
"Acquisitions" and individually, an "Acquisition") from eight separate and 
unrelated vendors. 
Upon closing of the Acquisitions, the REIT's portfolio will be comprised of 28 
commercial properties (the "Initial Portfolio") totalling approximately 
1.6million square feet of gross leasable area ("GLA"). The Initial Portfolio 
is diversified by property type and geography across Eastern Canada, with 
significant clusters in the Greater Montréal Area and certain urbanized areas 
of Atlantic Canada. 
"We look forward to completing the various transactions detailed in our 
preliminary prospectus as an important milestone in our previously announced 
plans to build a new strong, diversified commercial REIT," said Jim Beckerleg, 
President and CEO. "These acquisitions conform to our strategy of making 
high-quality, accretive acquisitions that are well financed,in urban markets 
in Eastern Canada." 
The Initial Portfolio will consist of sevenoffice properties representing 
307,730square feet of GLA, thirteen retail properties representing 
535,225square feet of GLA, fourindustrial properties representing 
442,573square feet of GLA, and fourcommercial mixed use properties 
representing 291,114 square feet of GLA. The properties are mostly situated in 
prime locations within their respective markets, along major traffic arteries 
benefiting from high visibility and easy access. Management believes the 
quality and diversity of the Initial Portfolio will enable the REIT to attract 
new tenants and retain existing tenants, providing a strong base on which to 
generate stable and growing cash flows. 
The aggregate purchase price (excluding closing costs) for the properties to 
be acquired under the acquisition agreements is anticipated to be 
approximately $155.6million. The offering of units is expected to close by 
the end of July 2013 and is subject to usual closing conditions. The 
Acquisitionsare subject to customary closing conditions, including with 
respect to financing and regulatory approvals. 
The net proceeds from the offering of units are expected to be used by the 
REIT, along with cash on hand, an assumed mortgage, certain committed 
mortgages, and a revolving credit facility to be established, to fund the 
purchase of the Acquisitions. The REIT also intends to use a portion of the 
net proceeds to repay existing indebtedness and for general trust and working 
capital purposes. 
For more information on the Acquisitions, please see the preliminary short 
form prospectus. 
The REIT has also agreed, subject to regulatory approval, to issue to 
Canaccord Genuity Corp., in connection with the advance of a bridge loan of 
$250,000 used by the REIT to make a deposit to a vendor of one of the 
Acquisitions, warrants exercisable for a period of 12 months from the date of 
issuance of the broker warrants to purchase up to 35,118 units of the REIT at 
an exercise price per unit equal to no less than the offering price of the 
units offered pursuant to the proposed public offering of the REIT. 
Experienced Management 
PROREIT is managed by President and CEO James W. Beckerleg and CFO Gordon G. 
Lawlor, accompanied by an experienced senior management team with knowledge 
and relationships in the REIT's target markets. Messrs. Beckerleg and Lawlor 
possess, in aggregate, over 50years of experience in acquiring, managing and 
financing Canadian real estate, totaling approximately $4.2billion of 
commercial real estate transactions. 
Most recently (from May2010 until March2012), the REIT's management team 
held senior management positions with CANMARC Real Estate Investment Trust 
("CANMARC"), a publicly-traded REIT with a nationally diversified portfolio of 
115 commercial properties totalling 9.4 million square feet of GLA, including 
a significant portfolio in Eastern Canada. CANMARC was ultimately acquired by 
Cominar Real Estate Investment Trust ("Cominar") in March2012, generating a 
compounded annualized total return of approximately 43% for CANMARC's 
The REIT's management team has an extensive network of relationships and 
contacts in the Canadian real estate industry, with particular experience 
within the REIT's target markets, which management believes will assist in the 
REIT's growth. 
Senior Management Appointments 
PROREIT is pleased to announce two senior appointments to the PROREIT 
management team: 
Mark O'Brien joins PROREIT as Director of Acquisitions. Mr. O'Brien has more 
than 18 years of experience in the commercial real estate business, in 
acquisitions, financing and leasing. Immediately prior to joining PROREIT, 
Mark was Director of Acquisitions for Eastern Canada at First Capital Realty 
Inc. Prior to holding that position, he was the most senior non-executive 
employee at CANMARC, where he was responsible for sourcing, underwriting and 
closing all acquisitions. 
Alison Schafer, CPA, CA joins the REIT as Director of Finance. Ms. Schafer 
has more than 12 years of experience as a financial professional, with 
expertise in financial reporting, due diligence, liquidity assessment and 
taxation. She worked most recently at Cominar, where she held the position 
of Director of Accounting, and previously with CANMARC. Prior to CANMARC, 
Alison was Senior Manager, Assurances, with a major accounting firm. 
"Mark and Alison are two highly valuable additions to our team," added Jim 
Beckerleg. "They have both worked with us in the past as important members 
of the team that built CANMARC. We are pleased to have them join us at 
The securities offered have not and will not be registered under the United 
States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any 
U.S. State securities laws and may not be offered or sold, directly or 
indirectly, within the United States or its territories or possessions or to 
or for the account of any U.S. person (as defined in Regulation S under the 
U.S. Securities Act) other than pursuant to an available exemption from the 
registration requirements of the U.S. Securities Act. This press release does 
not constitute an offer to sell or a solicitation of an offer to buy any such 
securities within the United States, or its territories or possessions, or to 
or for the account of any U.S. person. 
A preliminary prospectus containing important information relating to the 
securities has been filed with securities commissions or similar authorities 
in all of the provinces of Canada. The preliminary prospectus is still subject 
to completion or amendment. Copies of the preliminary prospectus may be 
obtained from one of the underwriters noted above and are available on SEDAR 
at under the REIT's profile. There will not be any sale or any 
acceptance of an offer to buy the securities until a receipt for the final 
prospectus has been issued. 
PROREIT is an unincorporated open-ended real estate investment trust 
established pursuant to a declaration of trust under the laws of the Province 
of Ontario. 
Forward-Looking Statements 
This news release may contain forward-looking information within the meaning 
of applicable securities legislation. Forward-looking information is based on 
a number of assumptions and is subject to a number of risks and uncertainties, 
many of which are beyond PROREIT's control, that could cause actual results 
and events to differ materially from those that are disclosed in or implied by 
such forward-looking information. 
Forward-looking information contained in this press release includes, without 
limitation, statements pertaining to the proposed offering of units, the 
proposed acquisitions of PROREIT and the financing of such acquisitions. 
PROREIT's objectives and forward-looking statements are based on certain 
assumptions, including that (i) PROREIT will receive financing on favourable 
terms; (ii) the future level of indebtedness of PROREIT and its future growth 
potential will remain consistent with PROREIT's current expectations; (iii) 
there will be no changes to tax laws adversely affecting PROREIT's financing 
capacity or operations; (iv) the impact of the current economic climate and 
the current global financial conditions on PROREIT's operations, including its 
financing capacity and asset value, will remain consistent with PROREIT's 
current expectations; (v) the performance of PROREIT's investments in Canada 
will proceed on a basis consistent with PROREIT's current expectations; and 
(vi) capital markets will provide PROREIT with readily available access to 
equity and/or debt. 
The forward-looking statements contained in this news release are expressly 
qualified in their entirety by this cautionary statement. All forward-looking 
statements in this press release are made as of the date of this press 
release. PROREIT does not undertake to update any such forward-looking 
information whether as a result of new information, future events or 
otherwise, except as required by law. 
Additional information about these assumptions and risks and uncertainties is 
contained in PROREIT's preliminary prospectus dated July 8, 2013 under "Risk 
Factors", which is available on SEDAR at 
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that 
term is defined in the policies of the TSX Venture Exchange) accepts 
responsibility for the adequacy or accuracy of this release. 
PRO Real Estate Investment Trust James W. Beckerleg President and Chief 
Executive Officer 514-933-9552 
PRO Real Estate Investment Trust Gordon G. Lawlor, CA Chief Financial Officer 
SOURCE: PRO Real Estate Investment Trust 
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CO: PRO Real Estate Investment Trust
ST: Quebec
-0- Jul/09/2013 16:04 GMT
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